Planet Fitness (NYSE:PLNT - Free Report) had its price target hoisted by Piper Sandler from $115.00 to $123.00 in a research report report published on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
PLNT has been the subject of a number of other research reports. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Morgan Stanley increased their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Royal Bank of Canada lifted their price objective on Planet Fitness from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.13.
Get Our Latest Analysis on PLNT
Planet Fitness Trading Up 1.1 %
Shares of PLNT traded up $1.08 during trading hours on Monday, reaching $101.32. The company had a trading volume of 1,511,387 shares, compared to its average volume of 1,083,294. Planet Fitness has a 12-month low of $54.35 and a 12-month high of $102.90. The firm has a 50 day simple moving average of $96.08 and a 200-day simple moving average of $84.68. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 54.47, a PEG ratio of 3.33 and a beta of 1.52.
Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. Sell-side analysts forecast that Planet Fitness will post 2.5 earnings per share for the current year.
Insider Activity at Planet Fitness
In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is owned by insiders.
Hedge Funds Weigh In On Planet Fitness
A number of large investors have recently modified their holdings of PLNT. V Square Quantitative Management LLC increased its position in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after purchasing an additional 201 shares in the last quarter. Quarry LP increased its position in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 318 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock valued at $154,000 after acquiring an additional 1,516 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Planet Fitness during the 4th quarter valued at $240,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Planet Fitness during the 3rd quarter worth $200,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.
Planet Fitness Company Profile
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Get Free Report)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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